Ritco Logistics Limited has informed the Exchange about disclosure under Regulation 31(4) of SEBI SAST Regulations, 2011
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Awaiting price reaction for this filing.
Ritco Logistics has informed the stock exchange about a disclosure filed under Regulation 31(4) of the SEBI Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011. This regulation applies to shareholders who already hold more than 25% of the company's voting rights and want to acquire additional shares through the creeping acquisition route, without triggering a mandatory open offer. By making this disclosure, the entity (likely a promoter group entity) signals its intention to continue buying shares incrementally, up to the permissible limit of 5% per financial year. The specific details of the acquirer and the exact holding are not provided in the headline, and investors should look at the accompanying disclosure for precise shareholding figures.
This disclosure is a routine compliance filing that indicates an existing significant shareholder (likely promoter) plans to gradually increase their stake without launching an open offer. It is not directly price-moving on its own, but suggests continued promoter confidence in the company.